South Africa to boost growth local automotive sector

South Africa is going to stimulate investment in the production of vehicles.
By improving guidelines for the new Medium and Heavy Commercial Vehicles-Automotive Investment Scheme (MHCV-AIS), the government is hoping to boost growth and development of the automotive sector in South Africa.


The MHCV-AIS provides a non-taxable cash grant of 20% of the value of qualifying investment in productive assets by medium and heavy commercial vehicles manufacturers and 25% of the value of qualifying investment in productive assets by component manufacturers and tooling companies for medium and heavy commercial vehicles. An additional non-taxable cash grant of 5% of the value of qualifying investment in productive assets may be available to projects that meet certain criteria.

Further reading on southafrica.info

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